SpringOwl Activist Presentation Deck
Step Two: Replace A Number Of The Directors
▪ This board lacks sufficient experience in tech and mobile
They have not exhibited enough "duty of care" to the shareholders for which they are supposed to be fiduciaries
They have not shown sufficient oversight and monitoring responsibility
■
They seem not to care that upper executives are leaving the company in droves; have they done exit interviews with
any of these departing executives? If so, they should immediately produce their notes to show shareholders for
whom they are working
▪ Directors need to use the Yahoo products and be able to critique Katie Couric on Snapchat Discover
▪ There needs to be a new board of directors selected to pick the next CEO; this new board needs sufficient
experience in the important areas of media, technology, digital, mobile and OTT
Source: Spring Owl Asset Management LLC
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Asset Management LLC
Confidential | For Discussion Purposes Only | 78View entire presentation